Insider Selling: Elastic (NYSE:ESTC) Director Sells 1,500,000 Shares of Stock

Key Points

• Elastic director Steven Schuurman sold 1.5 million shares at an average price of $90.13, generating approximately $135.2 million. His remaining direct stake fell 24.98% to 4.50 million shares.
• Elastic shares traded at $94.66, with the stock up substantially from its one-year low of $42.05 and below its one-year high of $108.00. The company recently beat quarterly earnings and revenue estimates, reporting $0.70 EPS and $478.1 million in revenue.
• Institutional investors own 97.03% of Elastic, while analysts maintain a “Moderate Buy” consensus with an average price target of $96.52; targets among recent analysts range as high as $125.

Elastic N.V. (NYSE:ESTC - Get Free Report) Director Steven Schuurman sold 1,500,000 shares of the stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $90.13, for a total value of $135,195,000.00. Following the transaction, the director directly owned 4,504,600 shares in the company, valued at approximately $405,999,598. This represents a 24.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Elastic Stock Performance

Shares of NYSE ESTC traded down $0.25 during trading hours on Tuesday, hitting $94.66. 1,524,507 shares of the stock were exchanged, compared to its average volume of 2,147,924. Elastic N.V. has a one year low of $42.05 and a one year high of $108.00. The company's 50 day moving average is $84.00 and its 200 day moving average is $65.13. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.81 and a quick ratio of 1.81. The firm has a market capitalization of $9.94 billion, a P/E ratio of 26.51, a P/E/G ratio of 7.89 and a beta of 1.03.

Elastic (NYSE:ESTC - Get Free Report) last released its earnings results on Thursday, August 27th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.12. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. The firm had revenue of $478.11 million during the quarter, compared to analyst estimates of $469.75 million. During the same quarter in the previous year, the business earned $0.60 EPS. The business's revenue was up 15.2% on a year-over-year basis. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. On average, research analysts expect that Elastic N.V. will post 0.65 EPS for the current year.

Institutional Investors Weigh In On Elastic

A number of hedge funds have recently made changes to their positions in the company. Pictet Asset Management Holding SA grew its stake in Elastic by 43.2% during the first quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company's stock worth $324,550,000 after buying an additional 1,958,219 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Elastic by 516.1% in the 1st quarter. First Trust Advisors LP now owns 2,627,636 shares of the company's stock worth $131,356,000 after acquiring an additional 2,201,140 shares in the last quarter. Temasek Holdings Private Ltd grew its position in Elastic by 9.3% during the 4th quarter. Temasek Holdings Private Ltd now owns 1,294,465 shares of the company's stock worth $97,654,000 after acquiring an additional 109,608 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in Elastic by 12.5% during the 4th quarter. Panagora Asset Management Inc. now owns 1,031,378 shares of the company's stock valued at $77,807,000 after purchasing an additional 114,965 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Elastic by 0.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 905,241 shares of the company's stock valued at $51,617,000 after purchasing an additional 5,224 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $83.00 price target on shares of Elastic in a report on Wednesday, August 26th. Wedbush began coverage on shares of Elastic in a research report on Friday, September 11th. They set an "outperform" rating and a $125.00 target price on the stock. Canaccord Genuity Group upped their target price on shares of Elastic from $80.00 to $120.00 and gave the company a "buy" rating in a research note on Friday, August 28th. Piper Sandler restated a "hold" rating on shares of Elastic in a research note on Friday, August 28th. Finally, Wall Street Zen downgraded Elastic from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $96.52.

Elastic Company Profile

Elastic N.V. NYSE: ESTC develops search, observability and security software for organizations that need to collect, analyze and act on large volumes of data. Its platform helps users search structured and unstructured information, monitor applications and infrastructure, detect security threats and build artificial intelligence-powered experiences.

The company's principal offerings include Elasticsearch, its distributed search and analytics engine; Kibana, a visualization and data exploration interface; and Elastic Cloud, a managed cloud service for deploying Elastic products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.